Registered number
SC702153
ELYSIUM MC2 LTD
Filleted Accounts
30 June 2023
ELYSIUM MC2 LTD
Registered number: SC702153
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 41,558 41,558
Current assets
Cash at bank and in hand 6,614 261
Creditors: amounts falling due within one year 4 (509) (480)
Net current assets/(liabilities) 6,105 (219)
Total assets less current liabilities 47,663 41,339
Creditors: amounts falling due after more than one year 5 (50,191) (47,503)
Net assets/(liabilities) (2,528) (6,164)
Capital and reserves
Called up share capital 120 120
Profit and loss account (2,648) (6,284)
Shareholders' funds (2,528) (6,164)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Chandbir Nat
Director
Approved by the board on 21 February 2024
ELYSIUM MC2 LTD
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental income of residentcial investments.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2022 41,558
At 30 June 2023 41,558
Depreciation
At 30 June 2023 -
Net book value
At 30 June 2023 41,558
At 30 June 2022 41,558
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 509 480
5 Creditors: amounts falling due after one year 2023 2022
£ £
Directors loan account 50,191 47,503
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